​​The Fed raised the key rate. Bitcoin falls below $19,000 On | Crypto_NFT

​​The Fed raised the key rate. Bitcoin falls below $19,000

On Wednesday, September 21, the US Federal Reserve System (FRS) increased the key rate range by 75 basis points at once, to 3-3.25%. The cryptocurrency market reacted with a fall.

“The central bank aims to achieve maximum employment and inflation at 2% in the long term,” the Fed said in a statement.

The department will also continue to reduce the holdings of treasury and mortgage-backed securities, as well as agency debt. The Fed once again noted the global economic difficulties.

Against the backdrop of the news, the price of bitcoin fell below $19,000. At the moment, digital gold quotes dropped to $18,666.

Most of the top 10 cryptocurrencies by capitalization were in the red zone. XRP (-3.1%), Cardano (-0.8%) and Ethereum (-0.7%) lost more than others in the last 24 hours.

According to CoinMarketCap, the total cryptocurrency market capitalization is about $920 billion.

In March, the Fed raised its key rate to 0.25-0.5% for the first time since 2018. The local rally of cryptocurrencies continued until April - Bitcoin and Ethereum reached annual highs.

In May, the Fed raised rates again by 50 bp. On the background of the news, bitcoin crossed the $40,000 mark, but on the same day failed the $36,000 level, which was the beginning of a protracted correction.

In June, the Fed raised its key rate by 75 bp. n. for the first time since 1994. The indicator reached the level of 1.5–1.75%, to which bitcoin reacted with a short-term increase to $22,000, and then collapsed below $18,000.